SAP and Dediq to create a joint venture.

SAP, a German multinational software corporation, and Dediq, an investment firm, agreed to create a joint venture, which will develop new digital solutions for banking and insurance. Dediq will invest more than $595m in the company. Pending antitrust approval, the new FSI Unit is expected to be in place in the second half of 2021. “Through partnering with Dediq, we will significantly increase our support for the digital transformation of customers in the financial services industry and deliver innovative cloud solutions at an accelerated pace that help them transform their business holistically. Financial services is a key industry for SAP, and today we not only reiterate but also reinforce our commitment to this market,” Christian Klein, SAP CEO.